5,252 Best Buy Co., Inc. $BBY Shares Bought by Chicago Partners Investment Group LLC

Chicago Partners Investment Group LLC increased its stake in Best Buy Co., Inc. (NYSE:BBY) by 27.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 24,179 shares of the technology retailer’s stock after acquiring an additional 5,252 shares during the period. Chicago Partners Investment Group LLC’s holdings in Best Buy were worth $2,415,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Optimist Retirement Group LLC lifted its holdings in shares of Best Buy by 1.0% during the 3rd quarter. Optimist Retirement Group LLC now owns 40,108 shares of the technology retailer’s stock valued at $3,539,000 after acquiring an additional 414 shares in the last quarter. Rakuten Investment Management Inc. acquired a new stake in Best Buy in the 3rd quarter valued at $3,168,000. Provenance Wealth Advisors LLC purchased a new position in Best Buy in the third quarter valued at about $70,000. Oregon Public Employees Retirement Fund raised its position in Best Buy by 0.8% in the third quarter. Oregon Public Employees Retirement Fund now owns 24,306 shares of the technology retailer’s stock valued at $2,145,000 after purchasing an additional 200 shares during the period. Finally, Gallacher Capital Management LLC purchased a new position in Best Buy in the third quarter valued at about $320,000. 80.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Jefferies Financial Group lowered shares of Best Buy from a “buy” rating to a “hold” rating and lowered their price target for the company from $89.00 to $85.00 in a report on Wednesday, August 5th. Barclays boosted their price objective on Best Buy from $77.00 to $85.00 and gave the company a “buy” rating in a report on Friday, August 28th. Wells Fargo & Company upped their price objective on Best Buy from $85.00 to $95.00 and gave the company an “equal weight” rating in a research note on Friday. Loop Capital downgraded Best Buy from a “buy” rating to a “hold” rating and set a $82.00 target price on the stock. in a report on Monday, July 13th. Finally, Truist Financial set a $100.00 target price on Best Buy in a research report on Thursday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Best Buy currently has a consensus rating of “Hold” and an average target price of $87.35.

Insider Buying and Selling

In related news, Chairman Richard Schulze sold 300,000 shares of the company’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $92.51, for a total transaction of $27,753,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kathleen Scarlett sold 116,062 shares of the stock in a transaction on Wednesday, September 23rd. The stock was sold at an average price of $92.15, for a total value of $10,695,113.30. Following the completion of the sale, the executive vice president directly owned 116,173 shares in the company, valued at $10,705,341.95. This represents a 49.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.50% of the company’s stock.

Best Buy Trading Up 0.2%

NYSE BBY opened at $99.58 on Friday. Best Buy Co., Inc. has a one year low of $55.10 and a one year high of $103.54. The company has a 50-day simple moving average of $91.57 and a 200-day simple moving average of $76.10. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.41 and a current ratio of 1.12. The firm has a market capitalization of $20.89 billion, a PE ratio of 16.57, a price-to-earnings-growth ratio of 2.40 and a beta of 1.20.

Best Buy (NYSE:BBY) last released its quarterly earnings data on Thursday, August 27th. The technology retailer reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.08. Best Buy had a net margin of 3.01% and a return on equity of 48.14%. The firm had revenue of $9.78 billion for the quarter, compared to analyst estimates of $9.59 billion. During the same quarter in the prior year, the business earned $1.28 earnings per share. Best Buy’s quarterly revenue was up 3.6% on a year-over-year basis. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. On average, equities analysts forecast that Best Buy Co., Inc. will post 6.81 earnings per share for the current year.

Best Buy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 8th. Investors of record on Thursday, September 17th were given a dividend of $0.96 per share. The ex-dividend date was Thursday, September 17th. This represents a $3.84 dividend on an annualized basis and a yield of 3.9%. Best Buy’s payout ratio is currently 63.89%.

About Best Buy

Best Buy Co, Inc is a specialty retailer of technology products and services headquartered in Richfield, Minnesota. The company sells consumer electronics, computing and mobile products, entertainment products, appliances, furniture, and related accessories through its retail stores, websites, and other sales channels.

Best Buy also provides technology-related services, including product installation, repair, technical support, delivery, and in-home consultation. Its services are offered through brands and operations such as Geek Squad, while the company also provides membership and protection programs designed to support customers after purchase.

The company serves customers primarily in the United States and Canada.